DJ Rare-Earths Price Rally Boosts Lynas Cash Flow -- Market Talk
2258 GMT [Dow Jones] Patersons thinks a rally in rare-earths prices means Lynas Corp. (LYC.AU) is no longer a speculative bet. Prices of neodymium-praseodymium oxide have risen by around 40% since the end of March, boosting Lynas's cash flow significantly as the product represents around 80% of revenue. Patersons says China clamping down on illegal production and the closure of polluting operations are among drivers of the rare-earths price rally. "Add to this increased demand as the world transitions to the more environmentally friendly electric cars, which require significantly higher levels of rare earths as compared to conventional vehicles, and we have a significant short term tightening of supply," Patersons says. LYC last traded at A$0.14. ([email protected]; @dwinningWSJ)
Market is finally starting to wake up
Patersons Positive on Lynas
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Last
$5.98 |
Change
-0.090(1.48%) |
Mkt cap ! $5.589B | |||
| Open | High | Low | Value | Volume |
| $6.06 | $6.11 | $5.98 | $17.19M | 2.859M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 79108 | $5.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.02 | 17678 | 2 |
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| Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
| LYC (ASX) Chart |